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Using the following trial balance, show the journal entry required to close the books. DR./ (CR) Cash 6,200 Accounts rec
Posted: Sat May 07, 2022 8:42 pm
by answerhappygod
- Using The Following Trial Balance Show The Journal Entry Required To Close The Books Dr Cr Cash 6 200 Accounts Rec 1 (102.99 KiB) Viewed 33 times
Using the following trial balance, show the journal entry required to close the books. DR./ (CR) Cash 6,200 Accounts receivable 15,750 Inventory Prepaid expenses 40,000 2,500 Accounts payable (1,750) Unearned revenue (1,000) Common stock (2,500) Retained earnings (20,000) Revenue (250,000) 175,000 Cost of goods sold Salaries expense 18,000 Insurance expense 8,000 4,000 Interest expense Consulting 3,000 expense Rent expense 2,800